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Micron rose 12%, Western Digital 12.5%, and Sandisk 14.3% on Tuesday. Morgan Stanley reportedly forecast memory prices to rise at least 25% from the second quarter to the third.
Sandisk stock has been on a remarkable run, rising nearly 4,000% since its IPO in February 2025. However, in recent weeks its stock price has plummeted 39%.
Tuesday, stocks climbed the proverbial Wall of Worry as investors looked beyond geopolitical concerns. The false moves in many AI stocks suggest that the rally has staying power.
The Roundhill Memory ETF (NYSE:DRAM) rallied 11.7% on Tuesday, the strongest single session in more than a month and on track to be the fourth-best day since the fund's inception.
Sandisk makes a critical component of data center infrastructure that's in limited supply. Management is guiding for significant growth in the fourth quarter, including a 321% increase in revenue.
Sandisk currently holds a clearly stronger revenue position, having recently overtaken Seagate Technology in total quarterly sales after trailing it in earlier periods. Over roughly the last eight quarters, Sandisk saw flat quarter-over-quarter results before accelerating sharply, while Seagate Technology maintained a highly consistent, gradual upward trend.
TSMC announces price hikes in 2027. Sandisk isn't a TSMC customer, but it makes a synergistic product.
Although Sandisk Corp. (NASDAQ: SNDK) stock price has plunged over 30% during the past 30 days, Mark Newman, a Wall Street analyst from Bernstein, has reiterated a bullish outlook over the next 12 months.
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